Matrixport, Asia’s fastest growing digital assets financial services platform, has announced the launch of its first-mover ‘Buy Below Market’ (BBM) and ‘Sell-Above Market’ (SAM) offerings.
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With BBM and SAM, users have the opportunity to buy or sell BTC at a discounted price or at a premium across a range of tenors. The rates will be optimised by Matrixport’s system automatically.
John Ge, Co-Founder & Chief Executive Officer, Matrixport, said: “With innate fluctuations of BTC price, opportunity cost is commonplace in crypto. Our latest products address this pain point by allowing our customers to enter a BTC position or liquidate at a better-than-market-price. Our offering is designed to remove the stress of timing the market, so crypto trading becomes easier for everyone.”
Users can express their views on BTC by selecting from a range of target buy prices at a discount with BBM. The lower the selected buy price and the longer the tenor, the greater the discount rate will be.
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For each target buy price option, there are three possible outcomes:
- If BTC price settles between the specified range: 50% of the user’s fund would be used to purchase BTC at the price of the lower bound. Users will receive BTC bought at the discounted rate and 50% of the fund returned as USDT/USDC;
- If BTC price settles at or below the lower bound of the specified range: 100% of the user’s fund would be used to purchase BTC at the price of the lower bound and users will receive BTC;
- If BTC price settles above the upper bound of the specified range: Orders are knocked out and users will get back 100% of their USDT/USDC fund
Conversely, there are three similar outcomes with SAM, with users having the opportunity to sell their BTC at a premium above the current market price. The higher the selected sell price and the longer the tenor, the greater the premium rate will be.
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